Page 36 - Union Properties News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Dubai: Saudi Arabian stocks headed lower with the banking stocks leading the losses after subdued first-quarter results from the sector. Dubai and Abu Dhabi stocks outperformed as the momentum created by the earnings goes on. Saudi Arabia benchmark index inched down 0.5 per cent at 10,362 points. Riyad Bank retreated 2.8 per cent after the first-quarter profits shrank more than 8 per cent taking a hit from higher total operating expenses coupled with lower total operating income. Impairment charges on investments rose over 4 per cent, though the impairment allowances for credit losses dropped...

Dubai and Abu Dhabi stocks traded in the red as the selloff continued of banking stocks despite fairly upbeat first quarter numbers. In Qatar, the index hardly changed changed with insurance and banking stocks pulling in opposite directions. Dubai Financial Market slipped 0.7 per cent to 2,610 points, pulled lower by banking and real estate stocks. Union Properties, Deyaar Development and Emirates NBD headed downward, while Dubai Islamic Bank also slipped into the red after the first-quarter profits shrunk 23 per cent year-on-year to Dh853 million. The lender attributed the lower profits to ...

UAE and other Gulf stocks underwent selling pressure in early trades after new waves of COVID-19 in some systemically important countries led to fresh lockdowns and stoked fresh investor fears about global economic recovery. Equity markets elsewhere are already reeling from the selloffs. Abu Dhabi Securities Market dropped 0.5 per cent to 6,124 points, giving up some of the gains from yesterday. The volatility is expected to stay on for the short-term as investors turn cautious and wait to seize each opportunity to book profits on their positions. Results awaited Banking stocks acted as the ...

Dubai stocks surged with real estate flying high on earnings, while Qatar Exchange jumped to its best day in a year after the Cabinet gave the go-ahead for foreigners to own the entire capital of publicly trading companies. Dubai Financial Markets soared 1 per cent to trade at 2,599 points after real estate outperformed as investors received one more cue that property companies are returning to the growth path. Deyaar Development announced a surge in quarterly profits to Dh15.1 million, up from Dh2.6 million reported for the first three months last year. Its topline jumped 51 per cent to Dh...

Saudi Arabian stocks extended their losses under selling pressure from banking blue-chips, while other GCC markets put on a lackluster performance ahead of first quarter earnings in the coming days. Saudi Arabian benchmark index traded lower by 0.3 per cent at 9,908 points in what was its third straight day of losses. Financial stocks weighed the index more than other sectors with Al Rajhi Bank, Banque Saudi Fransi and Arab Bank heading lower. Chubb Arabia Cooperative Insurance dipped after its board said there would be no dividend handouts for last year. Down on merger talks Alahli Takaful...